Punj Lloyd Ltd was referred to the National Company Law Tribunal (NCLT) on Thursday by ICICI Bank Ltd to recover dues worth 852 crore, sending the construction company’s stock tumbling by more than 11%.

A two-judge NCLT bench, headed by M.M. Kumar, issued a notice to Punj Lloyd, asking it to file a reply to ICICI Bank’s plea.

Phone number search engine Truecaller on Wednesday announced a strategic investment into the payments space in India by acquiring Chillr, the country’s first multi-bank payments app.

Truecaller co-founder and chief strategy officer Nami Zarringhalam said the founders of Chillr — Sony Joy, Anoop Sankar, Mohamed Galib and Lishoy Bhaskaran — will join Truecaller.

ICICI Bank today said it has not received any "specific communication" from the US markets regulator SEC with regard to alleged lapses involving the lender's chief Chanda Kochhar and her family members.

The bank's response was sought by stock exchanges regarding a report that matter of alleged lapses involving Kochhar has come under the scanner of the US Securities and Exchange Commission (SEC).

As multi-agency probe continues in India into alleged lapses involving ICICI Bank’s chief Chanda Kochhar (pictured) and her family members, the matter has also come under the scanner of the US markets regulator Securities and Exchange Commission (SEC).

Besides, the Indian regulators and investigative agencies are mulling seeking help from their overseas counterparts, including in Mauritius, as part of their own probes, officials said.

For the first time, the government has broken its silence on the governance issues at ICICI Bank. Interim finance minister Piyush Goyal said in press conference, "ICICI Bank has robust and systems and processes. Investigations and its finding will be out soon. As far as the law is concerned, the law of the land will take its own course."

ICICI Bank and its managing director and chief executive officer, Chanda Kochhar, have sought more time to respond to a show-cause notice served by the Securities and Exchange Board of India (Sebi).

According to sources, they have written to the regulator, requesting it to share documents on the basis of which the notice was served. The deadline to respond to the notice was Thursday.

MUMBAI: The board of ICICI Bank has begun looking for a new chairman as the term of the incumbent, MK Sharma, expires at the end of this month and he may not want a second term. Veteran banker and former Bank of Baroda chairman and managing director MD Mallya is the frontrunner to succeed Sharma, two people aware of the development said. Mallya was appointed to the ICICI Bank board on May 29.

Even as ICICI Bank set up an enquiry to investigate an anonymous whistle-blower’s complaint, activist shareholder Arvind Gupta has written another letter to Prime Minister Narendra Modi, with new allegations against the lender, Chanda and Deepak Kochhar, the Ruias-owned Essar group and Ruias’ relatives.

Private sector lender ICICI Bank will conduct an independent enquiry into allegations of breach of code of conduct and conflict of interest against Managing Director and Chief Executive Chanda Kochhar after a complaint from an anonymous whistle-blower. This comes soon after the Securities and Exchange Board of India (Sebi) served a notice to the bank and Kochhar.

Private sector lender ICICI Bank on Wednesday said it instituted an independent enquiry into the allegations levelled by anonymous whistle-blower against MD and CEO Chanda Kochhar.

Without detailing the allegations, the bank in a regulatory filing said the enquiry will be headed by an independent and credible person.

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